The Law Offices of Vincent Wong announce that a class action lawsuit has been commenced in the USDC for the Southern District of New York on behalf of investors who purchased NewLink Genetics Corporation (NASDAQ: NLNK) securities between September 17, 2013 and May 9, 2016.
According to the complaint, NewLink continuously touted the effectiveness and favorable safety profile of the company’s lead product candidate, algenpantucel-L, an immunotherapeutic pancreatic cancer treatment. As a result of such public statements, the stock price traded at artificially high levels throughout the class period. On May 9, 2016, NewLink announced that algenpantucel-L did not achieve its primary endpoint. Patients treated with algenpantucel-L lived for a median of 27.3 months in NewLink’s Phase 3 Clinical Trial, compared to median survival of 30.4 months for patients treated with standard therapy. Following this news, shares of NewLink were down more than 30% during intraday trading May 10, 2016.
If you suffered a loss in NewLink you have until July 11, 2016 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn’t require that you serve as a lead plaintiff.
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